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Crypto Market Starting to Look Like 2017 Again, Says Raoul Pal
- Raoul Pal sees similarities between today's crypto market and the 2017 bull run, citing early-stage macro growth and a weakening U.S. dollar.
- He predicts a major rally extending possibly into 2026 driven by institutional investments like sovereign wealth funds.
- Pal's business cycle model indicates the global economy is still early in growth, aligning with rising asset prices, particularly in crypto.
- The recent 9% drop in the U.S. Dollar Index further supports the case for investors turning to alternatives like Bitcoin.
- Global liquidity surge, supported by central bank actions and delayed rate cuts, contributes to what Pal terms the 'banana zone,' a phase of rapid price escalation.
- Institutional involvement, notably by sovereign wealth funds and major entities, marks a difference from previous cycles, potentially prolonging the current crypto bull run.
- Pal remains cautiously bullish, viewing the current market setup as more akin to early 2020 than the peak of a hype cycle, suggesting further upside potential.
- He acknowledges market volatility but sees it as inherent to the fast-moving crypto space and not necessarily alarming when considered within the broader market context.
- Pal highlights the maturation of crypto, with its alignment to real-world economic factors signaling a potential significant expansion of crypto's role in the financial system in the near future.
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